Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. It operates through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments. The company's principal products include steelmaking coal; copper, gold, blended bitumen, lead, silver, molybdenum, zinc, and zinc concentrates; chemicals, fertilizers, and other metals. It also produces indium and germanium. In addition, the company holds interest in Frontier oil sands projects in the Athabasca region of Alberta; and owns interests in exploration and development projects in Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States. The company was formerly known as Teck Cominco Limited and changed its name to Teck Resources Limited in April 2009. Teck Resources Limited was founded in 1913 and is headquartered in Vancouver, Canada.
Teck Resources Price Performance
Shares of Teck Resources stock traded up $0.79 during trading on Thursday, reaching $33.16. The company's stock had a trading volume of 4,612,031 shares, compared to its average volume of 5,750,427. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Teck Resources has a 12-month low of $19.32 and a 12-month high of $45.90. The company has a market capitalization of $17.30 billion, a P/E ratio of 4.12, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The business has a 50 day moving average price of $32.31 and a 200-day moving average price of $36.29.
Teck Resources (NYSE:TECK - Get Rating) (TSE:TECK) last posted its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $3.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $1.24. Teck Resources had a return on equity of 23.73% and a net margin of 28.90%. The firm had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company's revenue for the quarter was up 126.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Teck Resources will post 6.89 EPS for the current year.
Teck Resources Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $0.097 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.39 annualized dividend and a yield of 1.17%. Teck Resources's dividend payout ratio is presently 4.97%.
Analyst Ratings Changes
Several brokerages have recently weighed in on TECK. Canaccord Genuity Group raised Teck Resources from a "hold" rating to a "buy" rating and raised their target price for the stock from C$42.00 to C$46.00 in a research report on Thursday, July 28th. Clarkson Capital reissued a "neutral" rating on shares of Teck Resources in a research report on Tuesday, June 14th. Scotiabank cut their target price on Teck Resources from C$57.00 to C$54.00 in a research report on Thursday, July 28th. TD Securities dropped their price target on Teck Resources from C$57.00 to C$55.00 in a research note on Thursday, July 28th. Finally, Barclays dropped their price target on Teck Resources from C$50.00 to C$42.00 in a research note on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.13.